CynthiaSperry
New Member
- 5
I think you just need to know some answers. E&O coverage is expensive when you sell P&C (property and casualty) - more so than just E&O for life and health. Also - carriers that you want to be appointed with - they are going to have some commitment requirements - a certain volume of business is promised to get a contract with the carrier (standard ones, like Hartford). You can go to a broker (E&S is what we used to call them) and get to the major carriers without a commitment of so much premium volume, but the commission is a lot lower. There's a little of why it's difficult to start up your own agency rather than work for a large agency. One other factor - a good agency is going to spend quite a bit of money on computer programs/software/etc.... that's also difficult to do when you are starting out. If you are someone who has a lot of money to live on until the agency gets up and profitable, you can do it. Just remember, there are a lot of costs involved the first few years of opening up your insurance agency!You are wasting time.
He is right about ALL of it. It just depends if you have the wisdom to listen to it.
You are wrong. The barriers to entry ARE higher.
You strike me as the type that will keep asking questions until you get the answers that you want to hear...